Pantheon Resources Executive Chairman David Hobbs joined Steve Darling from Proactive to announce the company has released the results of the recent Independent Expert Report by Cawley Gillespie & Associates. This report completes the independent estimates for the Company's aggregate resources from the Kodiak field, Ahpun western topsets, and Alkaid horizon, resulting in totals exceeding 1.5 billion barrels of ANS Crude and 6.5 trillion cubic feet of associated gas.
The company states that the Ahpun topsets on the west side of the Dalton Highway can be economically developed, even after excluding the potential market offtake for natural gas. The best estimate of 282 mmbbl of contingent recoverable resources of ANS crude and 803 billion cubic feet of natural gas underscores Pantheon's ability to support the in-State phase of the Alaska LNG project, initially with Ahpun volumes and with its Kodiak field resources.
Hobbs told Proactive that the report evaluated the economics of the best estimate or 2C case. Based on an ANS Crude price of $80 per barrel delivered to the US West Coast, CGA estimates the net present value of the total contingent resources in the western topsets in the Ahpun field at $1.74 billion.
This report extends the independent assessments of all the Company's contingent resources discovered, appraised, and for which development approvals are being prepared. As previously announced, the Company is targeting a Final Investment Decision at the earliest possible date subject to regulatory consents, but in any case, to allow first production no later than 2028.
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